Quartz Partners LLC Invests $494,000 in Booking Holdings Inc. $BKNG

Quartz Partners LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,769 shares of the business services provider’s stock, valued at approximately $494,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bigelow Investment Advisors LLC raised its position in Booking by 1.8% during the 4th quarter. Bigelow Investment Advisors LLC now owns 112 shares of the business services provider’s stock worth $600,000 after buying an additional 2 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Booking by 1.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock worth $700,000 after acquiring an additional 2 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Booking by 30.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 13 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 3 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Booking by 0.8% in the fourth quarter. OLD National Bancorp IN now owns 377 shares of the business services provider’s stock valued at $2,019,000 after acquiring an additional 3 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of Booking by 6.0% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 53 shares of the business services provider’s stock worth $284,000 after acquiring an additional 3 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Performance

BKNG stock opened at $213.00 on Thursday. The stock’s 50 day moving average price is $186.78 and its 200 day moving average price is $177.12. The firm has a market cap of $160.04 billion, a P/E ratio of 23.57, a PEG ratio of 1.26 and a beta of 1.07. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the firm posted $55.40 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Piper Sandler reiterated a “neutral” rating and set a $215.00 target price (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Wedbush increased their target price on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Booking in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada reduced their price target on Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.72.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s KAYAK brand reported that international airfares for U.K. travelers in September and October are averaging 26% below peak-season levels. Cheaper “shoulder-season” travel could encourage additional bookings and support demand across Booking’s accommodation and travel platforms. KAYAK shoulder-season travel research
• Positive Sentiment: Recent fundamentals remain supportive. Booking’s latest quarterly revenue rose 8.1% year over year to $7.35 billion and earnings exceeded analyst expectations. Analysts maintain a broadly favorable view, with a “Moderate Buy” consensus and an average price target of $235.72, above recent trading levels. Booking growth-stock analysis
• Neutral Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annually, representing an approximately 0.8% yield. The payout signals ongoing shareholder returns but is modest and is unlikely to materially affect the stock’s near-term direction.
• Negative Sentiment: Booking Vice President Peter Millones sold 50,050 shares worth approximately $10.4 million, reducing his position by 11.77%. Director Vanessa Ames Wittman separately sold 375 shares for about $79,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as bearish signals; Millones still retains roughly $77.9 million in BKNG stock. Booking insider share sales

Insider Buying and Selling

In other Booking news, Director Vanessa Ames Wittman sold 375 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the sale, the director directly owned 16,133 shares of the company’s stock, valued at $3,404,063. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the sale, the chief financial officer directly owned 59,794 shares in the company, valued at $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 140,050 shares of company stock worth $26,341,680. 0.17% of the stock is owned by company insiders.

Booking Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.